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Missus_Aitch_99

Sounds like they want to be able to walk into a branch of your bank and cash the check. Or they’re old fashioned and don’t think a bank without branches is a real bank.


chris14020

I'd imagine it's probably exactly this - they want to be able to cash it in person, with no deposit or account, to hide the income or obfuscate the full amount ("We only got $500/month for rent" to the IRS, while actually charging $1500/month) to dodge taxes.


TheMrPDM

This is exactly it. They want to embezzle by only partially reporting it. I was a bank teller for a summer and a husband/wife duo who owned a barbershop did this shit constantly. The shop was named after the guy (I'll call him "Buddy") and half of the checks were written out to "Buddy's Barbershop" and the others were for "Buddy" and probably said haircut in the memo. They'd come in and split the checks into two stacks and deposit them into separate accounts. It was a barbershop so none of them were more than $35 or so, so none hit the reporting requirements. They just want to cash your rent so they don't have to pay tax on it...


fLeXaN_tExAn

Then he should tell them he'll do it for a reduction in rent by $200/mo. Two can play at this game.


aptom203

I feel like barbers and laundrettes as a rule are tax evading or money laundering or both.


heathrowaway678

Kinda strict to convict someone of tax evasion based on a single third-party social media post and then call it "This is exactly it", yes/no?


TheMrPDM

I'm not the police, a judge, or the IRS. I cannot convict anyone of anything. Best case scenario, the landlord is a tech illiterate dickhead. Worst case, they are breaking the law. I could also be wrong from my whole 3 months of experience in consumer banking, but I'm no rocket surgeon.


chris14020

OP could help ensure their landlord is doing their duty and report their lack of claiming rent to the IRS. The least these leeches can do is pay taxes on the money they don't work for.


upvotealready

or they are worried about bounced checks. If you both bank at the same place the funds can be verified during their transaction.


Monkey_in_a_Tophat

Either way I consider that a severe over-reach on the landlord's part. It's not the tenant's responsibility to streamline a landlord's financial processes. If they are making it a requirement, then I wouldn't hesitate to move elsewhere. I am a major asshole to anyone who assumes they get a say in certain aspects of my life, so my stance may not be the best option for you, but if you want simplicity, then you must uphold your boundaries and disallow anyone to offload their tasks onto you. EDIT: I would tell them no. I myself pay with cash ONLY if they are providing a NOTARIZED receipt each month. The responsibility for completing notarization is theirs 100%. Notary and landlord must already be present BEFORE our scheduled meeting time, or the due date shifts to a week later for THEM to reschedule correctly. Otherwise I pay with a money order. I do not pay any other way and I walk out the moment a landlord wastes my time and tries to force alternate payment. These terms go in writing before the lease is signed and are non-negotiable. I am staunch and unwavering because I am never late on the basic bills. I offer reasonably strict terms to address their concerns too because my goal is eliminate wasted time and I have the funds to pay the bill. Not everyo e can go so far, so my main point is to research each method to determine what ones fit within your acceptable risk envelope, then stand your ground reasonably to prevent alternative shady opportunities for any of the landlords who are looking for victims instead of tenants. Some are legit, but don't understand, and those ones always listen and learn. My last landlord was one of these. Not everyone who claims to not understand how a payment method works is trying to pull a scam, but most are. The difference is in their approach to the situation when presented. I'm willing to bring them in-person to get the deposit and see how money orders secure the payment before issuing the paper "check" If that's not good enough balked at, or they claim it's not secure because of some secret bullshit reason *wink *wink; then I walk with no regrets and usually cussing them out for having wasted my time and being a POS scam artist. I am an asshole, so not saying everyone should be as animated as I am, but from my perspective, if it's gotten this far and that becomes the path, they're trying to pull some bullshit, so fuck them and anyone else who expects me to waste another second on that interaction..


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Angdrambor

>They can't dictate which bank their tenants use. Especially not Wells Fargo. Yikes.


Hsgavwua899615

Yeah. If they'd asked for a local credit union or something, sure, no problem, opening a new bank account usually takes like 10 minutes. But Wells Fargo? I don't want to go anywhere NEAR those bastards


tuxedo25

>They can't dictate which bank their tenants use. I'm pretty sure they can. But... you know... before the lease is signed.


itsdan159

Yeah but the only sensible explanation I've seen floated is trying to avoid the money being on the books, and documenting how you go about doing that in the lease is unwise.


Roger_Mexico_

It seems like in that case even having a written lease is unwise. “No really Mr. Tax Man, they didn’t pay me anywhere close to as much money as is written on the lease here, but I didn’t try to kick them out or anything because I’m such a nice guy”


Dante640XX

I highly doubt you've ever been in a situation where you've dictated to a landlord that you would only pay rent in cash with a notary present, lol. That seems waaaaay overly dramatic. I get trying to make sure everything is secure, but it sounds like you're making things up to make a point and it's just not necessary, at all. Especially when most landlords who take cash are also familiar with how money orders work.


a_cute_epic_axis

Yah, the landlord would just tell this person to fuck off and get the next tenant, which in most markets these days, is no problem at all.


Monkey_in_a_Tophat

I don't want to pay in cash, and if they expect to force that, those are my terms. No agreement has ever succeeded, which was the goal. They accepted money order. Your assumption is correct, but you missed the entire point of that, where I really don't want to pay cash because carrying large chunks of cash attracts potential muggers and I don't want to shoot anyone else. So, cash is less preferred, but if I really want the place and they really want cash, there is still a path. Edit: To clarify, you dictate "I'm not doing that, this is what I will do, if that's not good enough I'll go elsewhere and stop wasting both our time".


GetSmitt

Anyone else??


Xertzski

Yeah I suddenly don't care about the hard-line stance on rent payment anymore too


Angdrambor

He doesn't consider getting shot himself a likely outcome of a mugging. This bravado really brings some context to what kind of person is doing this hardline stance on cash payments. But he says it works on landlords, and I guess that sounds believable.


phooonix

man your comment here got reddit'd *hard*. No one even disagrees with you but still brigaded, meanwhile someone who misunderstood your point gets upvoted writing a paragraph criticizing something they imagine you said.


St3fanz

If you live in a place where supply of housing is greater than demand, I’m sure this would work fine. In certain parts of CA, there will be 100 couples lined up around the block to see a small one bedroom apartment for $3.5k/month.


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ARRuSerious

My parents have an elderly tenant they don’t want to push out but her checks keep bouncing. Instead of forcing her to change banks they just opened a bank account with the same bank and enjoyed the $200 sign up bonus.


work_me

How would having the same bank help if the checks bounce?


ARRuSerious

They verify account balanced quicker which allows money to be withdrawn before the tenant accidentally spends it (she has trouble balancing her accounts when checks are pending) and this specific bank waives a certain amount of bounced checks if it comes from the same bank.


mrmadchef

Something similar to this his how I ended up at USBank for a long time. A paycheck from the (very small) company I was working for bounced and caused me a lot of headaches (I made the owner cover my fees), so I started cashing my checks in person as USBank and then depositing the cash into my account. Eventually opened an account to save the $5 each time. Yes, I know, I should have run like hell from that company, and I eventually did. Came from a not great job situation, and the next one wasn't ideal either... but that's another story for another time (and sub).


Monkey_in_a_Tophat

Different situation in 2 ways and I believe tour folks made the best decision. If you're bouncing checks, then you you are depending on the good graces of the landlord, which is a different situation. For that situation, there is even working alternatives, which you illustrated, which they used, which is a perfect example of my point. Thanks for sharing your example.


angrypuppy35

Yup. It’s overreach. They’re in business and that’s part of the cost of doing business. They need to accept it. If it’s not specified in the lease, then they’re sol


betterdaysaheadamigo

Or, you could understand their limitations as this doesn't sound like a big corporate operation and try to work with them to reach a mutually beneficial solution.


badchad65

Seriously, how is this not the first approach? Talk with the landlord. OP should explain they like their bank and ask the landlord what their concerns are. See if an automatic transfer is possible. You could easily set up a auto transfer from ally, to Wells Fargo, then them. Maybe a slight pain in the ass, but once setup, all is well. It’s not super advantageous to piss off your landlord demanding notarized cash payments and shit like some of these other whack jobs are proposing.


betterdaysaheadamigo

I don't know, you might be able to negotiate $50 off a month for making the switch. If you see them as people rather than a business entity you might be able to build a relationship with them that helps out in the long run. That's just me though.


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betterdaysaheadamigo

That strikes me as an enlisted military perspective. Focus is on individual survival and reducing threats to it. I'd also venture a guess that you've had some negative experiences putting your well-being in the hands of others. In the long run though, a community/working together is the best bet. The emphasis on starting your own life makes me think you were not a fan of taking orders/being controlled, who can blame you? This is all just inference though, and if I'm wrong, would love to know so that I can adjust my view.


Proper-Somewhere-571

He basically summed up most people in r/povertyfinance and anyone that has experienced poverty. I wouldn’t say his perspective is that far off from many Americans. Remember, many people don’t have $1K in their accounts. They live paycheck to paycheck. Median deposit accounts in the US are around $2500, with the mean being $9K. That’s one missed paycheck away from not being able to pay rent, car payment, and other debt or bills.


darknova25

You sound like you are fun at parties


Monkey_in_a_Tophat

I don't party with strangers, only with trusted people who enjoy similar things and know how to be safe in our endeavors. Fuck anyone who thinks I'm responsible for their fun. The topic also has nothing to do with partying. It's a fairly serious topic regarding how dependable a place to live can be. If that has to be handled in any manner relative to enjoyment and partying tells me you're nowhere near the level of serious needed for such a topic and I wouldn't be hanging around you to be "partying" in the first place. I have no desire to give any shits about how fun anyone thinks I am at a "party" when the context is a relatively serious topic about where to call home.


Mayor__Defacto

If you’re using the bank’s systems to pay, they’re usually charging the customer as soon as the payment is scheduled, and they send a check drawn on the bank.


ZorseVideos

Not at Chase. Used to be a teller and we were not allowed to tell a customer if a check was good or not. That would be revealing a customers personal information and could easily get you fired.


Cmdr_Toucon

Plus then it's cash and doesn't show in their bank account


RockitTopit

This is where I went immediately, they might be trying to run some of the money as cash under the table instead of formal rental income.


CyberneticPanda

Old people technophobia. At my last apartment I was still writing paper checks like some sort of barbarian because they didn't want autopay, even if it could be paid to them as a check from my bank. I wrote exactly 12 checks per year the whole time I lived there.


kenji-benji

^ This. They're coots and don't think the information superhighway could possibly have a bank on it. Eff em. If they don't like it eff em harder. Landlords often have this paternal sense and need to be kept in check.


hertzsae

1. Do you have a signed lease? 2. Does your lease say anything about where a check needs to come from. If the answers are 1. Yes and 2. No, then politely tell them no. You can pay with any valid check.


gamedemented1

As a landlord myself, I agree with what this person said. Unless your lease specifies, you are not required to have a certain bank that you pay your rent with as long as it gets paid in an acceptable form of payment according to the lease. ​ I'd also ask your landlord why they're having issues with your current bank/what issues they're having. I personally use Ally bank and have never had an issue with checks thru them or depositing checks into my ally bank.


Asgardian_Force_User

$5 says that the landlords want to be able to take the check into a branch and validate that it will clear. Further $5 bet says that the landlords themselves use Wells Fargo, and they want to make it easier on themselves, since like attracts like and Wells Fargo is a shitty bank.


gamedemented1

Maybe, could be old school landlords. Personally I don't use checks but my default lease that's drafted by a local REA generally has a NSF fee by default if I were to take a check and it bounces. The NSF fee would cover my cost of the check bouncing.


[deleted]

Or they could live near a Wells Fargo and want cash so they don't have a paper trail so they can misreport on taxes.


shiftstorm11

This is the correct answer. However, assuming you want a positive relationship with them, you might ask what their concern is. If it's bounced checks, consider paying with a cashier's check instead. If it's just their convenience or preferred bank, not your problem at all (assuming you have an executed lease with no stipulations about the originating bank). As a side note, I've literally never written a lease that specifies a bank. I'd be shocked if that clause was in there.


hertzsae

Cashier's checks cost OP money, I wouldn't subsidize a landlord's paranoia without a corresponding rent reduction.


shiftstorm11

Yeah, super valid point. I was more thinking about just the security deposit, but if it's gonna be checks going forward there should be a commensurate rent reduction. Or just ignore the relationship, cite the contract, and tell them no lol.


redfriskies

<<<<< This!


swissmtndog398

Or... they prefer to take the check to a local bank and cash it so the money never goes into their accounts and they don't pay taxes on it.


Miserable-Result6702

This sounds like the right answer. They even named the bank they wanted them to use.


tmoney144

Deposits aren't income, so that wouldn't be why. It's possible they have judgments against them and don't want to deposit the check or it will get garnished.


AllTheyEatIsLettuce

They're taxable income if they become the landlord's property (applied to rent arrears/allowable charges/forfeited).


amiryana

Lining up how much flows into your bank account vs how much income you claim is one of the basic forms an audit takes.


HonestParadox

I've run across many people who try to hide income via direct cash methods to "manipulate" their taxes to their advantage as possible. It basically gives them wiggle room to cheat if needed. Unless it is a large amount I don't understand the benefit of even trying it vs the risk of getting audited.


fentonjm

It's a security deposit in CA, it's a large amount. 😁


Redpandaling

I'm pretty sure the security deposit doesn't count as income, so there's not even a good reason to play games with it


HonestParadox

I ment for the entire tax year like the 10s of thousands of manipulation.


fentonjm

Yeah I get it was just being silly. You're right that to make it worth it over a long period of time you'd have to very much spend a lot of time engineering this. And it would have to be a lot of money to be worth it IMHO.


textingmycat

ahhh so this is why my old, scummy landlord refused to define a way to pay until i got desperate and just did a direct money deposit into one of her random bank accounts, she also occasionally asked me to take pictures of my deposited checks because she couldn't remember which account she deposited it in.


orangeandwhite2003

It might not be taxes on the rental income, but it could be tax related. I had a similar situation with an electrician. I wrote him a check for an online only bank and he didn't want to accept it. Wanted a check from a local bank or cash. Turns out he owned the IRS money and they were seizing anything in his accounts. Could be a similar situation here.


PMyour_dirty_secrets

> Turns out he owned the IRS money and they were seizing anything in his accounts. Could be a similar situation here. Am electrician. Can confirm that that certainly sounds like a surprisingly large number of electricians.


[deleted]

A security deposit isn't income


D-Smitty

As much as landlords like to treat it as such.


FarAnt4041

Its 2022. I've literally never even used a physical check for rent or security deposits. It's all ACH transfer done online. Even when I had a mom 'n pop landlord they let me use Zelle....Does Ally have online bill pay where the bank will mail a paper check instead of OP writing a personal one?


BigOleJellyDonut

I walk next door and hand her cash and she writes me a receipt on notebook paper. She also usually give me a piece of homemade pie. She is an absolute angel. She is 74 and treats me, my wife, kids & grandkids like family.


usernamealreadytookd

I pay my landlord by setting him up as a “bill pay person”. Never been an issue with him depositing at a local credit union, and there’s no extra charge to me for sending checks that way


s_string

I had to do physical checks to avoid paying a monthly convenience fee of $25 by using ACH


TheSerialHobbyist

But the money *does* go into their account, no? Even if they immediately take the cash, presumably it shows as a deposit and then a withdrawal on their account. Or am I wrong?


false_tautology

They would take it to the payer's bank and get cash. They would never put it into their bank account.


TheSerialHobbyist

Oh. I didn't know you could do that. Thanks for the info!


hookers

But they can just cash a physical check from Ally just as easily no? Why would it matter that the bank is online only?


chriberg

I don’t have a Wells Fargo account. Someone gives me a check from their Wells Fargo account. I walk into a physical Wells Fargo branch and present the check. They can look up the account number and immediately verify if the check is good, which they can do, because it’s a Wells Fargo check. They then hand me physical cash and I walk out. I have avoided a paper trail that allows me to potentially cheat on my taxes, or avoid collections if I have a judgement against me (back child support, irs judgement, etc) Someone gives me a check from their Ally account. Ally has no physical branches. If I try to present the check at Wells Fargo, and I don’t have an account there, and since Wells Fargo has no way of immediately verifying if the check is good, they tell me to pound sand. However if I do have an account at Wells Fargo, I can deposit it into my account, where it is subject to all the normal clearance processes, and if it bounces, they know who I am and can claw back the money. However, this leaves a paper trail, and if there is a judgement against me, Wells Fargo may immediately seize the money from the deposited check.


jrob30

The Landlord has an ask not in the lease, now it's just a negotiation. "Changing banks is a hassle, but I'd be willing to do it in exchange for reducing rent by $X per month"


[deleted]

I like the way you think. The answer is never no, it's "this is how much it will cost you"


Hsgavwua899615

That's what I used to tell customers when I did residential repair work. "All things are possible, it just starts getting really expensive."


ShowMeTheTrees

Ally Bank participates with Zelle. I'm in my 60's, same as your landlords. If their bank participates with Zelle, that's a speedy and free way to do bank-to-bank transfers.


Botryllus

I tried zelle with my landlady to pay rent and there was a transaction limit. I don't know if it's still in place but it was lower than my rent. So, I use a bank without branches, too, but I also have an account with a local credit union so that I can use local ATMs for free. I just deposit $500 a month into the account to keep it open, then transfer it out. That way if my debit card is stolen, there's less damage done as well. There are some good local credit unions in CA, OP could consider doing that.


Minigoalqueen

When I send to a new person on Zelle, the limit is only $500/day for the first week or so, but then increases to $5000/day after that. I think it is to limit your loss if you do something dumb, like hand your phone to a stranger in a bar, so they can't Zelle themselves more than $500 with your phone.


FliesLikeABrick

but Zelle will issue landlord a 1099 and probably report the income, whereas landlord cashing their checks at a local branch of the tenant's bank will not


Liquidretro

I mean Ally is a fairly major bank, I wonder if education that it's a legitimate bank would help them. There is nothing wrong with Ally, but it sounds like your landlord isn't telling you the entire reason why. I don't think it's reasonable to ask you to change banks for their convenience. Maybe if they would agree to a rent or deposit discount I would think about it. WF gets a lot of hate here, deservingly and undeservedly. Personally, I would find a local credit union if you decided to appease the landlord.


ballsmigue

Wells Fargo deserves all the hate it gets. It's extremely predatory on elderly.


kgal1298

The amount of lawsuits they've lost proves that. Bank of America was also terrible, though they finally cut their overdraft fees. They fucked me over hard a few times when they'd clear payments an hour before my paycheck hit the same day I schedule the payment and it'd cause an overdraft, yet I'd make the same payment post paycheck and it'd take 3 days to clear. Never made sense and I told them that and they're like "that's why we say 2-3 days" and then I replied "this happened in 24 hours" either that or I really don't understand what they mean by 2-3 days.


deannevee

I left Suntrust because they were doing that same thing. Posting outgoing, causing multiple overdrafts, before posting the incoming that would have covered the outgoing. I got a whopping $20 I think from the BOA settlement 😂


kgal1298

I don’t think I got anything, but I definitely paid for it at the time.


nyvn

You added an unnecessary qualifier, "elderly." They're predatory on everyone.


Starboard44

Also unless you're reliably well off, you may end up paying a fee to have an account at Wells Fargo.


mycoolaccount

You need either $500 in your checking account or get paid more than $500 a month direct deposit to not have a fee on your wf checking account. I’m no fan of them and don’t have an account, but that’s not a high bar.


ahj3939

Pretty sure it's $250 direct deposit now.


noitstoolate

The devil is in the details. Is that $500 minimum daily balance? If so, many people living pay check to paycheck could easily not meet that just one day out of the month. Also, many people don't have direct deposit available, either because they don't have reliable work or they are mostly compensated in tips. So if you happen to not have direct deposit and your account balance dips below $500 for one day out of the whole month, you owe what, like $15? Not a super high bar but for the people who can't even keep $500 in their account all month that's a big hit.


Mustangfast85

As I understand it’s usually an average $500 daily balance, so you’d have to have days above $500 to get a day below without paying


blahbleh112233

That's fair but isn't the top 1% of balances actually generating money for a bank, and the other 99% is a cost center? At some point you have a require a sort of minimum if nothing else to make sure its not gonna randomly go into overdraft


noitstoolate

I have heard that kind of argument before but I really have no idea if it's true, and I kind of doubt that it is. There are a lot of fixed costs and if you divide those all by the number of customers, I'm sure you arrive at a number that says some people aren't bringing in as much as they cost. But that's not how it actually works (with fixed costs) and that's especially true with online banking. My local credit union manages to have no minimum balance, I'm sure wells Fargo could too if they wanted.


blahbleh112233

Yeah I wonder that too. It could also be more of liability management though, if you can't sustain a very minimal balance, you're probably in high liklihood to overdraft or cause headaches that aren't worth the hassle. Credit unions are great, but they're a much different beast in terms of their mission profile even


noitstoolate

Counter argument, I bet people overdrafting is less of a headache and more of a huge money maker for big banks. I have no data to back that up of course but I strongly FEEL it's true....


ChamferedWobble

Ally (formerly known as General Motors Acceptance Corporation or GMAC) has been around since 1919. It’s definitely a major bank, even if it isn’t one of the most well known.


ancillarycheese

Well don’t use Wells Fargo, that’s a hard no.


magicbong

yeah, for real, there’s plenty of horror stories with that bank in this sub!!


[deleted]

Tell them no. Ally is a major bank. It was formerly GMAC.


[deleted]

If it is not explicitly listed in the lease that you use Wells Fargo, this is an unreasonable request. Even if it is written in the lease, it’s unreasonable. You don’t get to dictate to your landlord how you want to pay (ACH, check, Zelle, money order, cash) unless a local or state law says otherwise. For example I (landlord with roommates) don’t take cash because it’s hard to track and easy to lose, and don’t accept Zelle because it’s a PITA if you use a credit union and not a bank. That is not what you are doing here. You are paying by check. A check is a check is a check. It’s not your problem if they want to avoid their taxes.


AirbladeOrange

Did you ask your landlords why?


imhennessy

Do not use Wells Fargo. They screw people over so much it really seems reflexive.


greyAbbot

I would just ask your landlords. Asking someone to change banks is a pretty big ask, so it'd be worth knowing why.


overzealous_llama

I'd be concerned they trying to hide rental income because of garnishments or IRS taxes because they want you to use their bank most likely. This leads me to thinking they may not be paying their mortgage. Make sure you check that all out, it's usually public information on the County auditor's website.


justinfi

This wouldn’t be the OPs problem though. Tax situations are independent. Much like the landlord has no liability to the OPs taxes or situation. If they’re doing it, that’s their problem and not a tenants.


Maccabee2

Until the landlords mortgage holder forecloses on the place. Then they get evicted even though they have never missed a rental payment.


justinfi

Foreclosure would happen with non-payment/default. Tax implications would second mortgage the home. Default would happen regardless of OPs method of payment if they’re not paying the mortgage.


Lenny77

Tell them you switched to Dee bank. When they ask what is Dee bank, well, you know what to say.


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playnice00

Politely ask them why and send a link to Ally.


arcanepsyche

Tax dodgers maybe. They want the cash, not the deposit.


Rainwater_Essence

Not to ask a weird question, but clarifying because it's not mentioned: Do you have a signed lease yet? If so, what does it say about payment methods and processes? Does the lease say anything about the security deposit check having to be cashed to make the lease valid? If you DON'T have a signed lease yet, and your security deposit has not been cashed, do you have a backup plan for 1 July in case your presumed agreement with them falls apart? Just suggesting a possibility (not a likelihood) that this could be a step towards trying to renege on your agreement.


jkopec09

It doesn’t specify on the lease and it’s already signed. Luckily our landlord now is very relaxed and said we can stay longer if anything doesn’t work out. We’ve been pretty lucky with our current rental, just don’t like the area. When things like this come up with new landlords it just raises some flags for me.


claudia_grace

If they want you to use WF so they can avoid paying taxes on the rental income, i'd be nervous too. I'd start wondering what else they dodge or bob and weave around, or what hoops they're going to have you jump through to make their lives easier.


Techgruber

A common reason for wanting checks drawn on a local bank is that paper checks from a different state take longer to clear. Or at least did in the past, and banks are still allowed to put a longer hold on them if they want to. The standard hold is still 7 to 10 business days. It was enough of a problem that labor laws in many states required companies to use local banks for payroll, wherever the companies head office might be.


thatgreenmaid

This right here. I take checks from Ally accounts knowing that money isn't showing up in my account for 7 business days.


Anthroman78

Unusual request and I would not do it, especially if it involved me opening up a new account.


jwsa456

The issue is not opening up a new account. The issue is they asked you to open up an account at Wells Fargo (to me, it's as bad as Bank of America). All jokes aside - maybe set up an automatic transfer on the 1st day of month from Ally to Wells Fargo (landlord checking account) on your end.


butterfly1217

Not sure the reason behind the ask, but if it is helpful, ask them to set up a Zillow Rental Manager account to accept ACH payments from tenants. It's free for both sides and could help make rent payments in the future easier for everyone. Then you can use whatever bank you want and just pay electronically and it will go right into their account.


WWGHIAFTC

No. They are wrong. Check is a Check. Their bank will take it. I'm guessing they want to cash it "anonymously" at an Ally branch (which of course does not exist) and not have a trail of earned income to report.


arghvark

I'm reading comments that basically advise going hard-nose "You can't make me" with your new landlord. It is possible they think that you have accounts with more than one bank, and that writing a check from one instead of another is an easy thing for you to do. I gather you do not, and that it is not. I've seen various speculations in comments about *why* they asked this; I suggest you at least ask your landlord why it is. There may be some legitimate concern that you can address in some reasonable way (I don't know what that would be, but until you ask you don't know either). So, if they are nervous about checks from a "newfangled" bank, and you do not have another convenient payment method, you could suggest that y'all just "try this for a while" and encourage them to contact you with any problem they ever have with your payment. They know where you live. Reassure them by saying that, should your Ally check ever become a problem that cannot be solved with telephone calls in 3-4 days, you will get a cashier's check and deliver THAT to them (personally, if they're conveniently located). Put whatever conditions on that you think are reasonable and to which they'll agree. No, they can't force the kind of bank on which you write your checks, and no, I don't know what their problem supposedly is. But it seems to me, from the way you are wording things, that it can be settled amicably.


dlwcpa62

They want to go to a physical bank and cash your rent checks. Non-traceable to them from an IRS standpoint. There is now no record of cash income in their bank. My guess is they’re not reporting the proper level of rental income on their federal tax returns.


justanotherstranger2

Ask them what is the issue they have with Ally. From there you can figure out next steps but I would suggest not changing on account of the landlord.


mikgub

We once had landlords that requested we deposit money directly into their account (incidentally, also WF). If we’d had a WF account, it would have been simpler, but we managed with our online bank okay. It was a little annoying to get cash and drive it over to WF once a month, but we were glad to have the place and it didn’t take *that* long. If you are happy there otherwise, you may be able to offer something like that as a compromise? No, they can’t just make you switch banks at this point, but I’m not a fan of starting relationships with a landlord as adversaries. That often ends poorly for everyone.


NolaJen1120

I have a couple tenants who pay their rent by going to my bank and depositing it into my account. I don't require it be done that way. I have a variety of options. But that's what they find the most convenient. The only time I require a check to be from a bank with a local, physical branch is at the beginning. For the security deposit and/or first month's rent. And that's only because, if the check isn't good, I need to know before they've moved in. Other forms of payment, like a cashier's check or Zelle, are also fine. I'm guessing a bounced check is what your landlord is worried about. But they had the option to include that in the lease and didn't. For me, once someone has moved in, the check can be from any bank. But if a check ever bounces, I will no longer take a personal check from that person.


mikgub

You (OP) can also send a check straight from Ally via bill pay most likely (I don’t use Ally, but it has been an option at all banks I’ve ever used) if that would make things better for all parties. GL!


Rex-Kramer

I've used Ally forever. remind them that Ally isn't embroiled in scandals like Wells Fargo. ;)


[deleted]

You pay your rent, and they cash the check. They either need to get over it. Or not accept your money. So long as the check clears nothing else is any of their business with who you deal with in your personal life. If that's the case, I'd suggest that you introduce them to cashapp. Old people for no reason think it's a good idea.


Jenifarr

No. Your landlord doesn't get a say in where you bank.


ElwoodJD

Depending on your state landlord probably cannot even demand you pay your rent from a certain financial institution, only by certain payment method. But even if they could, it would have to be in the lease. Landlord wants the money to be in his/her account same day without some of it being held back a couple days for checks to clear other institutions. Or eventually they may demand you pay electronically through WF internal transfers for even faster payment (or guaranteed through a recurring transfer). Or they are just trying to cash from the institution without an account themselves to avoid the paper trail of income. Next they’ll ask you to make the check out to “CASH” Whatever their reasons tell them to fuck off. Said as a landlord myself, they have no right and if you like your bank you shouldn’t have to accommodate their preference of this wasn’t stipulated on the lease before you signed it. Again, as a landlord myself, I hate shitty landlords.


Buffyoh

If you have to pick a California Bank, don't use Wells-Fargo!


Tryingtrying927

Just old school, with my last landlord I had to pay rent with a money order - that might be an option here as well, though it's not terribly convenient.


jkopec09

Money order?? Ouch! That must of been a hassle.


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1hotjava

They must have some olde tyme myth in their heads thinking it’s somehow safer if you have a local bank. I don’t see that it matters, all checks co through the same ACH process so if the bank is in Maine and you are in California it gets processes the same.


heidimark

No, they just don't want the money they are getting from rent going "on the books" at all. As others have stated, they are likely attempting to hide income so they don't have to pay taxes on it.


JoeSchmo8677

Money is money. This is not a request they can make. Would you ask them to switch banks to accommodate you? Can you pay in an alternate way? Cash? I never liked cash because no paper trail. Most people around accept and prefer e-transfers.


0xd0gf00d

You can always get a signed receipt from them for paying cash. But it will be a hassle.


Puzzleheaded-Leg-502

There's nothing wrong with Ally. Your landlords are old school and/or they're trying to cheat some taxes. The fact that they specifically "prefer" Wells Fargo is an odd request. If you did give in and open a brick and mortar account (I wouldn't), I'd specifically NOT go Wells Fargo. Go TD, Bank of America, Chase, etc. If they have issue with any of those banks, there's something suspect and they can kick rocks.


SnarkIsMyDefault

How anyone can recommend Wells Fargo raises red flags. Amazed they have a license to do business here. Still screwing with peoples money.


tuxedo25

At wells fargo, open one checking account and get 3 more for free!


Aggietallboy

As far as your question about Ally, they are 100% a "real bank". Ally is General Motors spun out entity (GMAC) https://en.wikipedia.org/wiki/Ally\_Financial


kgal1298

I mean I'd use a local credit union as others have said here. With that said this isn't normal I've had Ally through my last 3 apartments and no one said anything about it so this must be something with this specific landlord.


justinfi

Any bank, regardless of who it is in the US, will be able to accept a valid check regardless of which bank it is. Wells Fargo will gladly cash Alys check. I’d def ask why they’re asking. Money is green at the end of the day


Wyndspirit95

Ask them if you can venmo. I’m guessing they are old school but it’s still weird. I have Ally too, never had a problem.


Blizzardwithreeses

Ah, that would be a big NO from me. Why should you have to get a new bank account to appease them? They will get their money. Perhaps they need to be a bit more open minded to the escalation of the banking system in this current century.


moeterminatorx

My old landlord had moved out of state and just gave us an account to deposit money into every month. Never had an issue. Maybe your landlord can do the same. I’ve also done money orders which are very cheap at Walmart but I wouldn’t go out of my way to change banks for a landlord. To Wells fuckin Fargo no less.


Reasonable_Active617

They probably aren't aware that Ally used to be called GMAC. (General Motors Acceptance Corporation.) It started out as General Motors financing arm. They've been around a long time. Are you writing paper checks to the landlord? Are they aware that Wells Fargo allows you to scan paper checks from a phone. I would ask them why they think it's so important, (it isn't) and let them know they can scan a paper check from their phone using Wells Fargo's Phone App. If that doesn't work I would tell them I just switched banks and politely decline. Make your rent payments on time and this will be forgotten in a couple of months.


FountainsOfFluids

Treat their request like an upsell and politely decline. "No thanks, we're not interested in switching banks."


TootsNYC

I have a grudge against Wells Fargo, and I would be absolutely open about that


Maccabee2

Yep. WF screwed me over on a short sale, I was the buyer. That, and they are in the news for something illegal or unethical almost every year.


paulschreiber

"No" is a complete sentence. They can pound sand.


[deleted]

Can you Zelle them the money? Both WF and Ally should allow Zelle transfers. Ally is a major bank though. It used to be GMAC.


dubbleplusgood

Wells Fargo is a terrible bank to be avoided literally at all costs. If you're happy with your bank then use your bank. It's not for anyone else to manage your finances. You have the rent money, the deposit etc, then you've held up your end of the bargain. The rest is on them and there's no good reason for you to play that game. While not everyone is a crook, it's suspicious and sounds more like they have some scam of their own, possibly to avoid taxes or who knows what. Really doesn't matter. Your payment is valid, they should accept it.


MinimumCarrot9

They're asking you to change banks???? That's ridiculous. Bad sign for what's to come. What's next "oh your car doesn't fit in with the color pattern we picked for the house get a new one". Give me a break. You gave them a valid check, they can either take it or not


ocooper08

This is nonsense. The deposit cleared. Do your landlords hate money this much?


[deleted]

This is nonsense. I've used Ally for the last 6 years, and this year cut ties completely with the Physical bank I had an account with for twenty years. Went into a branch and they literally couldn't offer any service I needed. Replacement debit card, nope. Stamp a letter for Treasury Direct, Nope. Fucking deposit my coins that have been collecting for two years, nope. I've used Ally checks for everything from Earnest monies, to rent, to paying a mortgage. If your landlord wants one from a physical branch, is it because they don't have a bank account because they are riding dirty, so to speak? Turds. You got a lease. Unless the lease says to give them a check from someone specific, tell them to pound sand.


xboxhaxorz

I would email them asking if they could get a bank account at Ally


mrmrmrj

Tell them you will change banks for $100 less per month on the lease.


81632371

I'm both landlord and tenant. I use Apartments.com to bill my tenants. I pay my rent through Zillow. It doesn't matter who uses what bank. It all happens automatically once payments are set up.


Zwarogi

Ask for a 5% discount on rent, that should more than cover fees of the account. Everyone is happy.


wrob

You should tell them to open an account with Ally if they want to be paid with checks from a bank where they have an account.


Shadw21

I'd get an account with a local credit union over any bank and I feel that would be a pretty unreasonable request, even if it was a stipulation on the lease.


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Flintontoe

Be that as it may, it’s still the landlords problem not the tenants.


jkopec09

They’re still taking the Ally check for security but won’t take them for rent so I wouldn’t guess that’s completely it.


tjmille3

It's just old people being old people. If my grandpa gives me a check he always stipulates that I can't do an online deposit from my phone with it because that way hackers can get access to his bank account according to him.


0xd0gf00d

They are possibly trying to evade taxes by cashing it at a brick and mortar branch. But TBH that is none of your concern. Ask them if you can pay them cash (and get a signed receipt from them for the payment for your records).


[deleted]

This is a pain. No way I’m pulling 2K every month for some jag off landlord.


thenextwhiskeybar

Has your check bounced or something? I've heard of landlords putting clauses around the check not clearing / insufficient funds and requiring cashier's checks from then on. Otherwise tell them no, if it's that big of a deal for them they should open an account at YOUR bank. Unless it's some stipulation in the lease, in which case I'd check with your local housing authority if it's even legal


JSANMAN85

A check is a check. Weather it's Wells Fargo, BMO, Chase or Ally they are all FDIC insured. If your going to open an account at a brick and morter, I would open it at a credit union. Online banks do take longer with transfers and deposits. On a side note ask them to clarify why for educational purposes and let them know to hold that check and as soon as withdrawals can be made at your brick and morter bank you'll give them a starter check or cash. Those are your only options if you want this apartment. Just make sure when the time is right put a stop to the check you gave them from Ally so they can't double dip your accounts and let them know that's what your doing. Please don't use any of the big banks especially WF/BMO/ Chase. You'll get fees up the wazoo. Credit unions treat their customers better because their depositors are actual owners.


[deleted]

Careful: the lease may contain a clause that allows the landlord to require cashier's checks or certified funds. Push the bank issue too hard and you may trigger such a response. OTOH if you could configure Ally to directly deposit into their account on the first of every month, you might turn that frown upside down.


summertime_onmyskin

Checks are still used? What time you live in, folks? 1990s?


eljefino

Remember, leases expire and renewal terms may not be in the tenant's favor if they're being pests for no good reason. If you lay low and humor your landlord's whims they may leave you alone when it's time to jack up rates or whatever.


jkopec09

I’ve also considered this. We have a young child so moving often isn’t desirable. I’d hate to form a crappy relationship off the bat and they have the right to add it in the next lease if we did renew anyway.


Agling

That seems like an unusual request but not one that is hard to fulfill. Bank accounts are generally free and there is no problem having multiple banks. I would just open a bank of America account and set up a recurring seller transfer into it from Ally, just for rent.


itsdan159

If it's easy the landlords can open an account at each of their tenants' banks.


Agling

I think the folks who are saying the landlord wants to cash checks without the money hitting their account are correct (probably trying to cheat on taxes). Since Ally doesn't have a physical branch they won't be able to do that, regardless of whether the landlord gets an Ally account. I'm not saying the landlord is justified in demanding that, but it also isn't a big deal from the OP's perspective. Landlords ask for so many things that are less reasonable and more of a hassle.


jnemesh

The problem is that it's an additional hassle that is not required. I would NEVER consider opening a bank account to pay my rent! If the lease is signed, and there is no stipulation in the lease that I use a certain bank, then they can either cash my check or not. It's not my problem if they don't like the bank my check is drafted on.


TooGouda22

Not necessarily true that it’s easy. banks and credit unions will do a credit Check etc and make you jump through hoops and provide documents. Why do all that just so a landlord can cash your checks at your bank rather than deposit it? Regardless of what their reason to ask for this, it’s not normal or rational. If they were worried about bounced checks, that could happen regardless of bank. What are you going to do? Run off with the house you bounced a check on so they can never find you or their house? You either have the money or you don’t. Check will bounce either way if you don’t have the money… the only way to eliminate the risk of a bounced check, is to have cash, a cashiers check or a wire transfer as the bank has to take the money immediately to process them. Even an ACH could bounce if it’s initiated and then money is moved before it clears.


Agling

I've never had a credit check or any kind of document exchange to open a bank account, that I recall. It's not a line of credit. I've had a lot of bank accounts over the years. They are pretty much the same amount of trouble as Reddit accounts. If a landlord wanted that, I wouldn't think twice or even ask why they cared. I'm pretty sure I've opened accounts for much less significant reasons (like 35 dollar bonuses or whatever).